The costs of nursing home care for an elderly family member can quickly drain his or her financial resources. Most people will spend about $75,000 per year to pay for nursing home care. Through proper Medicaid planning, we can help you protect your financial assets, while remaining eligible for Medicaid.
You should never think that it is too late to plan for your future. Medicaid planning involves responsibly considering your needs and goals for the remainder of your life.
At Willis Law, we advise people about the process of applying for Medicaid when a person has assets in excess of that allowed for Medicaid approval purposes. Our Medicaid planning lawyers will sit down with you and determine the most appropriate strategy for you.
West Michigan Medicaid Planning Attorneys Protecting Your Assets
There are a variety of methods to protect your assets when applying for Medicaid. While it is wrong to think that a viable way to protect your property is to give it away, there are a variety of correct tools available to convert property that Medicaid counts against you into otherwise uncountable property.
If you own property that is not exempted for Medicaid calculations, it is wise to speak to an elder law attorney about your estate planning and probate options. Property exempted for Medicaid calculations includes your primary residence, personal property and one automobile. If you own property in addition to that exempted property, our firm will assist you in qualifying for Medicaid by:
- Preparing an irrevocable Medicaid annuity trust
- Legal "spend downs" of your estate
- Properly transferring property
- Life insurance policies
- Assisted living and nursing home consults
Contact Our Kalamazoo Medicaid and Medicare Planning Attorneys Today
To learn more about your Medicaid planning options and the services we offer, contact us online or call 888-635-3824 today for a free initial consultation. We have offices conveniently located in Kalamazoo, Grand Rapids and Paw Paw.